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Audit manager hiring summary. Here are some key points about hiring audit managers in the United States:
Here's a step-by-step audit manager hiring guide:
An audit manager is responsible for the complete audit process of finances in an organization. They work for banks and report directly to the audit committee. Based on findings gathered, a financial institution can gain vision into their variance and overall performance. They are also responsible for scheduling audits, initiating departmental audits, consolidation, and analysis of audit reports, and reviewing accounting procedures. Moreover, part of their tasks is to create audit finding presentations to be presented to the audit committee. It requires a high amount of accountability to be an effective audit manager.
First, determine the employments status of the audit manager you need to hire. Certain audit manager roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
You should also consider the ideal background you'd like them an audit manager to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire an audit manager that fits the bill.
This list shows salaries for various types of audit managers.
| Type of Audit Manager | Description | Hourly rate |
|---|---|---|
| Audit Manager | Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. | $39-85 |
| Manager Finance Planning And Analysis | A manager finance planning and analysis oversees the daily operations of a company's financial planning department. They typically have administrative duties such as setting goals and guidelines, establishing timelines and budgets, delegating tasks among teams and staff, and reviewing financial reports regularly... Show more | $36-71 |
| Finance And Insurance Manager | A finance and insurance manager is a professional who is responsible for selling new and used car buyers with financing and insurance programs. Finance and insurance managers are required to provide a thorough explanation of aftermarket products and extended warranties to customers as well as a complete explanation of manufacturer and dealership service procedures and policies... Show more | $25-74 |
Including a salary range in your audit manager job description helps attract top candidates to the position. An audit manager salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.
For example, the average salary for an audit manager in Oklahoma may be lower than in Maine, and an entry-level audit manager usually earns less than a senior-level audit manager. Additionally, an audit manager with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Maine | $157,975 | $76 |
| 2 | New York | $146,214 | $70 |
| 3 | Connecticut | $138,403 | $67 |
| 4 | Massachusetts | $138,367 | $67 |
| 5 | Washington | $134,036 | $64 |
| 6 | District of Columbia | $132,626 | $64 |
| 7 | Utah | $132,484 | $64 |
| 8 | Oregon | $132,075 | $64 |
| 9 | Kansas | $131,705 | $63 |
| 10 | Maryland | $128,910 | $62 |
| 11 | Virginia | $127,740 | $61 |
| 12 | Wisconsin | $126,807 | $61 |
| 13 | California | $125,177 | $60 |
| 14 | Missouri | $121,238 | $58 |
| 15 | Illinois | $121,024 | $58 |
| 16 | North Carolina | $120,725 | $58 |
| 17 | Pennsylvania | $120,221 | $58 |
| 18 | Minnesota | $119,988 | $58 |
| 19 | Indiana | $118,219 | $57 |
| 20 | Georgia | $118,190 | $57 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Meta | $175,141 | $84.20 | 25 |
| 2 | Apple | $157,813 | $75.87 | 11 |
| 3 | $155,468 | $74.74 | 1 | |
| 4 | Netflix | $154,647 | $74.35 | 3 |
| 5 | Cloudflare | $150,661 | $72.43 | 2 |
| 6 | Citi | $148,148 | $71.22 | 23 |
| 7 | Neuberger Berman | $146,211 | $70.29 | 3 |
| 8 | Eisner Health | $145,428 | $69.92 | |
| 9 | Workday | $143,609 | $69.04 | |
| 10 | Sumitomo Mitsui Financial Group | $143,266 | $68.88 | 3 |
| 11 | eBay | $141,175 | $67.87 | 2 |
| 12 | Walmart | $140,999 | $67.79 | 47 |
| 13 | Castro & Company | $140,029 | $67.32 | 4 |
| 14 | Graphic Packaging International | $139,328 | $66.98 | 4 |
| 15 | Clean Harbors | $138,292 | $66.49 | 27 |
| 16 | Monster Products | $138,228 | $66.46 | 2 |
| 17 | Bunge | $136,849 | $65.79 | 7 |
| 18 | Frank, Rimerman + Co | $135,780 | $65.28 | 1 |
| 19 | $134,916 | $64.86 | 1 | |
| 20 | City National Bank | $132,739 | $63.82 | 136 |
An audit manager job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of an audit manager job description:
There are various strategies that you can use to find the right audit manager for your business:
Recruiting audit managers requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've found the audit manager candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.
Once that's done, you can draft an onboarding schedule for the new audit manager. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
There are different types of costs for hiring audit managers. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new audit manager employee.
You can expect to pay around $121,419 per year for an audit manager, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for audit managers in the US typically range between $39 and $85 an hour.